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<br /> g?t1- S <br /> provisions of the Rule are invalid, and the City also_may amend the provisions of this Article in its <br /> discretion in any other manner or circumstance, but in either case only if and to the extent that the <br /> provisions of this sentence would not prevent an underwriter from lawfully purchasing or selling <br /> Bonds in the primary offering of the Bonds. <br /> ARTICLE XV <br /> SURETY POLICY <br /> Section 15,01. SuretY Policy, <br /> <br /> In order to satisfy the City's obligations with respect to the Reserve Fund provided in this <br /> Ordinance, the City may purchase from a Surety a Surety Policy for such Fund, in an amount equal <br /> to all or a portion of the amount of the average annual requirement for the payment of principal and <br /> interest with respect to the Bonds, upon a finding by the City Council that the substitution of a Surety <br /> Policy in lieu of depositing cash to the Reserve Fund is cost effective. <br /> ARTICLE XVI <br /> PUBLIC NIEETING; EMERGENCY DECLARATION <br /> Section 16.01. Public Meeting. . <br /> It is officially found, determined, and declared that the meeting at which this Ordinance has <br /> been adopted was open to the public and public notice of the time, place and subject matter of the <br /> public business to be considered and acted upon at said meeting, induding this Ordinance, was gíven, <br /> all as required by the applicable provisions of Tex. Gov1t Code Ann. ch.551, as amended. <br /> Section 16.02. Emenœncv Declaration. <br /> The public importance of this measure and the fact that it is to the best interest of the City to <br /> provide funds for the proposed public improvements at the earliest possible date, for the immediate <br /> preservation of the public peace, health and safety, constitutes and creates an emergency and an <br /> urgent public necessity requiring that the Charter rules requiring ordinances to be read on three <br /> several days and that no ordinance shall become effective until the expiration of ten (10) days <br /> follmving the date of its final passage be dispensed with for the purpose of adopting this Ordinance <br /> as an emergency measure; and said Charter rules are hereby dispensed with, and this Ordinance is <br /> accordingly passed as an emergency measure, effective and in force immediately upon.and after its <br /> passage. <br /> - <br /> It. '3",- ~"MAIl' wwss. ",,'DOC=RDNC£.f>l 41 <br />